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>>> good morning. in the state of the union, president obama presses congress on issues including taxes, entitlements, immigration, and gun control. >>> market milestones. the dow turning in its highest close of the year. announcing 1% of an all-time record. >>> and in corporate news, comcast is buying the rest of nbcuniversal from general election for $16.7 billion. it's wednesday, february 13, 2013. "squawk box" begins right now. >>> good morning, everyone, welcome to "squawk box" on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we are following major stories. after yesterday's close on wall street, u.s. equity futures this morning, well, you see they are fight a little bit higher. -- they are fight a little bit higher. after gains yesterday, the dow up more than 45 points yesterday. our guest host is westwood capital's len bloom. the next hour, famed investor and billionaire real estate tycoon, sam zell. top-ranked money manager don yakman. his fund have seen annual returns of 10% over the last five years. we'll also talk about how business leaders and inv
, not try to shrink some pieces of the pie and enlarge others. and i've never been clear on how mr. obama sees the economy and whether he winunderstands that. if you're going to take away from some in order to give to others, i don't think that will be effective or received very well outside his base. >> a year ago it was the buffet rule. it was warren buffett's secretary in the first lady's box this year it's going to be the likes of a tim cook bringing mcintosh production back to the states. do you think we've edged off of that class warfare a about bit? >> i don't know. i want to hear what the president has to say. i have heard different things but have not read the speech. if he wants to go protectionist, for example, i think that will be poorly received, frankly, again, outside of his own union base and so forth. the tim cook thing is fascinating. i get that. if you bring manufacturing facilities home, that would be great. cut the corporate tax rate that would give them an incentive. regulate less that would give them an incentive to come home. >> certainly he will talk about incenti
the nation's security would be compromised by the sequester cuts. is that true? president obama's undersecretary of defense says prudent cuts are necessary and comparable. and we'll talk about using drone strikes to kill traitorrous citizens overseas. "the kudlow report" begins right now. >> first up president obama is starting to feel the heat. republicans are less and less likely to give in to his demand to raise taxes and they are publicly presenting a united front over impending budget cuts. that means sequester, which was obama's idea. it's going to happen. but listen to how the president attacked republicans today. >> they recognize that the sequester is a bad idea, but what they have suggested is the only way to replace it now is for us to cut social security, cut medicare and not close a single loophole, not raise any additional revenue from the wealthiest americans or corporations. >> there you go. additional revenue. joining me, robert costa. i was at the heritage foundation's seminar today for new and old congressional members. the vibe i picked up is, a, no new taxes
the by that release and after the numbers we eke talk. >>> plus, president obama is asking congress to come up and new tax revenues in order to help the deficit. we'll have a conversation with represent dave camp coming up later in the program. stay with us. m charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-294-5411. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to
president barack obama president obama at a facebook town hall two years ago is holding a big re-election fund-raiser for new jersey's very republican governor chris christie. find out what's behind this new lo lovefest in the democrat stronghold of silicon valley. that's coming up later on the "closing bell." tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and
need and is president obama correct to say that tax revenue needs to be part of that solution? >> i would say we are half way there. unfortunately, we have done easy stuff. we raised taxes on rich people and we've capped discretionary send itting without saying exactly what we would cut. we haven't done anything to reform a tax code. we haven't done anything to reform our entitlement programs. to slow overrate of growth of the economy. we have to do that or we will never get to the promise land. i think president obama is right. that we still got to have some revenue in the mix. but again, the real focus has to be on reducing these entitlement costs. that's the big deal. >> senator, you agree that we need entitlement cuts but we also need revenue as part of the last phase of this deficit reduction? >> i do, indeed. you don't have to call it a tax increase. if you go into the tax expenditures, which are these loop holes, they are really spending any other name, earmarked, $1,100,000,000 of them. you can't spend your way out of this hole and can't tax your way out of this hole or grow
expressing outrage. meantime, china is calling for calm. >>> the state of the union, president obama set to deliver an address to congress tonight. and stocks getting a slow start to the week. the s&p falling for a fifth straight monday. today is tuesday, anyway, february 12th, 2013. and "squawk box" begins right now. >>> asian markets shrugging off the tests in north korea. but markets in china, taiwan remain closed. north korea says a miniaturize ed nuclear missile was tested. the u.s. ambassador to south korea responding to all of this. >> it's a very provocative act that undermines regional peace and stability and i think it would be critical for us to coordinate very closely with you and our colleagues in south korea going forward. >> we're going to talk more about washington's reaction and what this all means for geouncertainty and our guest hosts for this hour, jared bernstein who works as the chief economist for joe biden. tony is joining us and capital alpha markets managing director chuck gabriel. they're also going to talk state of the union. john harwood sat down with dave ax
, president obama pushing for a higher minimum federal wage. is that good or bad for the american's con economy. our soci. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to new markets? hmm gotta admit that's better than a few "likes." i don't have the door code. who's that? he won a contest online to be ceo for the day. how am i supposed to run a business here without an office?! [ male announcer ] fast, reliable deliveries worldwide. fedex. >>> here we go. jane wells and cindy. first up we ask, you, the viewers, do you think president obama's proposal to raise the minimum wage it $9 will boost the economy? almost a quarter said yes. it would give people more spending power. 14% said maybe. but two thirds who voted said no. new minimum wage would hurt small businesses trying to hire new yo new york workers. jane, you are coming to us at an ag expo. how would it go there? >> wages here are based on the
spending. we promise. we will do it. and they both agreed to do this. now it was a -- obama is not asking to do targeted spending cuts. he's asking to do a deficit reduction package. >> it has moved. >> it has moved. and the u.s. -- >> we talked clearly about it and -- >> and you ask the people in the u.s., what about sequester? i just want to see that we can cut spending. the reason we -- >> it's symbolic at this point. >> it is. it's only 44 billion by tend of the year. >> i would agree. i would think that if you hadn't looked at what you had done over the last couple of months where it had been partisan politics and where republicans feel like they got the short end of the stick, you might be able to do a better deal right now. but every time one side feels like it's lost, it has to come back and make up ground. >> government has grown 20% over the last four years. we're trying to cut it marginally. >> but you know as well as i do, it's discretionary spending that's the big problem. >> but there's still hundreds of billions of dollars in discretionary spending. but there's 200 billion
of the biggest power companies in the northeast and president obama now warning that drastic spending cuts could have a devastating effect on the economy. you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> welcome back. winter storm nemo striking with full force. we've got full team coverage. jackie d'angelis is standing by outside headquarters and mary thompson is outside a home depot in new jersey and jay gray is live tonight in boston. jackie, kick things off for us. >> reporter: good afternoon. moments ago governor cuomo declaring a state of emergency. as of now subways in manhattan with fully running and fully functional but we could see closures if things get worse later on. meantime, connecticut has issued a driving ban, this after its governor had also declared a state of emergency
and the conference so we'll hopefully see more of it and you. thanks so much, kate kelly. president obama triggering a hot button issue at last night's state of the union. >> let's raise the federal minimum wage to $9 an hour. >> i'll speak with a small business owner who is actually a huge fan of the president's plan. i'll explain why coming up. and then -- ♪ they could be the odd est of odd couples. facebook founder mark zuckerberg hosts a fund-raiser for new jersey governor chris christie tonight. we'll take you live to palo alto for the latest on this. (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you
we're here on squawk. >>> also, calls to the white house. president obama will be meeting with a dozen ceos today. and the bulls trying to battle back. it's been a good year, but now stocks coming off their worst losses this year. it's february 5th, 2013 and squawk begins right now. >>> good morning, everybody. ike becky quick along with andrew ross sorkin. joe kernen is off today so we are again joined by steve liesman. also at the table with us this morning, our guest host is andy surel. andrew just talked about the markets. stocks ending at session lows yesterday. in fact, all ten s&p sectors closed lower. yet the bulls betting this is nothing more than a bull pac. but we will have a number of powerful investors for their thoughts throughout yao the morning. jim o'neill will join us in just a few minutes. then in the next half hour, the man charged with making sdigs for how blackrock invests more than $1 trillion, the firm's chief investment strategist, russ koesterich. nouriel roubini will be joining us and we're going to ask him for his current view of the world. in t
ahead. if we make it on noise it will be more difficult. >> have you met with president obama recently? >> not since nebraska which delayed it in all fairness to the president last year. not since nebraska approved it, but certainly we met with the secretary of state two weeks ago. our minister went over all the measures that we're taking in canada on greenhouse gases, and we actually believe that the united states and the president can do both things. he can reach his copenhagen targets and reduce greenhouse gases, and he can also have energy independence in america that he committed to in it 2029 when he was running for president. nat an either off, reduced green huss places. do you think the u.s. media is not being strayed in explain why it means for the u.s. economy? >> it gets into an either/or. is the president going to side with the union in his stakeholder base that really need the jobs or with the environmentalists? first of all, this won't make any difference on the greenhouse gases. we're committed to lowering greenhouse gases but it's displacing venezuelan oil so if i can s
and a third of them blamed their negative outlook on obama administration. the message here. the wealthy have now fully healed from the crisis, but they won't have full confidence until the country fixes its own finances. maria. >> all right. thank you so much. robert frank. >>> up next, gamers beware. there's a first person shooter taking aim at xbox, the wii and playstation. up next, one of the creators of microsoft's xbox will join me with a move that could reboot the video game business and the first lawsuits against carnival coming out. the latest details on this developing story. back in a moment. [ laughs ] now this is a test drive. whoa! you really feel all 335 foot-pounds of torque. it's chevy truck month! silverado was also recognized for the lowest cost of ownership. hey, what are you gonna do with it? end table. oh. [ male announcer ] it's chevy truck month. now get 0% financing for 60 months, plus trade up to get $1,750 total allowance on a silverado all-star edition. or trade up and choose customer cash plus option package discount for a total value of $7,250. we create easy to
'll solve it. i was with peggy noonan this weekend on "meet the press." they say obama just wants to scare us, congress wants to scare us too. we're tired of it. we recognize -- roger was on this morning and he said, people are going to wake up and say, wow, the national parks are closed? no, there's not enough -- yes, long lines and travel. maybe take the train for change, maybe get in the car. i just don't think that there is enough to scare us yet. meanwhile, the defense stocks are red-hot. uss truman has to stay docked, can't go to the gulf. let's get some priorities, navy. 250 golf courses, really nice. >> the other side, comes up with bernanke tomorrow, maybe things are better than the market anticipates. and then how does he actually stop it and can he successfully do it so we don't get a huge backup in rates. >> it is a real worry. >> it's got to be. >> of all the people who are going to talk about it, isn't bernanke the guy you want tomorrow if you're a bull in this market? he's likely to go up there more so than some of the other speakers who have been out and around and here and
is right. it was just the application of public pressure by both sides. first by president obama at the white house when he talked to the nation's governors about ways in which the automatic spending kutss will hurt their states trying to get them to put pressure on the congress. but he also described a way out for republicans and democrats. here's the president. >> democrats like me need to acknowledge that we're going to have to make modest reforms in medicare if we want the program there for future generations and if we hope to maintain our ability to invest in critical things like education, research, and infrastructure. but we also need republicans to adopt the same approach to tax reform that spaker boehner championed just two months ago. >> but of course of the two parts the president outlined, republicans only agree with the first which is a point boehner made at his news conference about a half an hour ago. here's the speaker. >> the president says we have to have another tax increase in order to avoid the sequester. well, mr. president, you got your tax increase. it's t
the country together, who's taking a partisan approach. president obama does okay on that score. he's 48% of the country say he's trying to bring the country together. 43% say he's taking a partisan approach. but republicans get hammered by the public. only 22% credit republicans with trying to bring the country together. three times that many just about, 64%, say they're driving the country apart -- in a partisan way. and when you look at the issues at stake, each side has some advantages. but -- from the democratic point of view, looking out for the middle class, 22% advantage for the democrats. on the issue of taxes which is traditionally a republican strength, democrats have a small advantage plus 3%. republicans on the flip side, who would do better at protecting a strong defense? 26% advantage for republicans. who'd do better at reducing the deficit? 6% advantage for republicans. so each side brings strengths to this issue. but president obama clearly has the high ground in terms of the bully pulpit and trying to put pressure on republicans. he hasn't been able to put enough pressu
and first solar, they have been taken off for the past four or five days. president obama spoke very heavily about solar stocks and alternative energy and referenced him again in his inaugural, and they have been up really since november. >> thanks, bob. a market that is rallying here. the market is 40 minutes before the closing bell sounds, and the market is higher, 52 points, and the s&p 500 showing a nice move on the upside, as you can see there. if you can't beat them, join them. best buy is set to begin price matching against online retailers. find out which shock you're better off with next? >> after a huge outcry from fans, including bill and myself, was this a marketing debacle like new coke or stroke of genius to drive sales? stay with us here on "closing bell." would define you as an innovator. to hold more than one patent of this caliber... would define you as a true leader. ♪ to hold over 80,000... well that would make you... the creators of the 2013 mercedes-benz e-class... quite possibly the most advanced luxury sedan ever. see your authorized mercedes-benz dealer for excepti
what the impact of obama care really is on the sector. back to you guys. >> all right. thank you, josh lipton. apple is not participating in the broader rally over the past three months. will that change anytime soon? find out how you should be playing apple and the rest of the tech sector right after this break. [ male announcer ] let's say you pay your guy around 2% to manage your money. that's not much, you think. except it's 2% every year. go to e-trade and find out how much our advice and guidance costs. spoiler alert: it's low. it's guidance on your terms, not ours. e-trade. less for us. more for you. [ kitt ] you know what's impressive? a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ >>> about an hour into trading. 7:31 on the west coast, 10:30 on the east coast. acme packet shares rallying on the news, up 22%. blackbe
could be obama care. do you think that they will expand to employees but no more? what is the impact that you see? >> that is the biggest concern of our franchisees. they don't have enough information. they don't know what they're looking forward to. it's causing a lot of concern. that, too, will also pass through the consumer. >> would it be a big subway outlet, wouldn't it? >> single store has about a dozen employees. >> it's 13 years since you wrote the book "start small, finish big" which was about grass roots entrepreneurship. do you think the environment for those chasing the american dream by setting up their own business has gotten worse or better in those 13 years? >> it's continuously gotten worse, because there's more and more regulations. it's tougher for people to get into business. especially a small business. i tell you, if i started subway today, subway would not exist. because i had an easy time of it in the '60s when i started. i just see a continuous increase in regulation. >> do you have to change the franchises, or is it more generous to startups? do you advance
Search Results 0 to 19 of about 20

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